Loma Negra resumes investments

Published:
19 January 2004

Argentine cement maker Loma Negra plans to resume investments in 2004 and forecast a sales increase of 8.0 per cent year-on-year, the company said on January 16, 2004. Loma Negra succeeded in restructuring its US$400m debt in September 2003 and at present is on the way of recovery. Loma Negra will resume operations in its cement plant in Barker, near Buenos Aires, in view of the expected major sales in 2004. The plant of the company in Barker is one of the nine Loma Negra has in Argentina. The operations in Barker plant were suspended some years ago. The Barker plant of the company is located most closely to the Atlantic Ocean of all the plants of Loma Negra in Argentina and its location is strategic for the company as in 2004 a serious upturn of the construction activities on the Atlantic Ocean coast of Argentina is expected. Loma Negra closed 2003 with sales of 462 mln Argentine pesos US$161.4m, compared to sales of 353 mln pesos US$123.32m in 2002. The cement sales of the company in 2003 reached 2,039,688t, compared to 1,848,639t of cement sold in 2002.